Sunday, May 19, 2024
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De Beers Cuts Prices of Lightbox Lab-Grown Diamonds

Responding to industry shifts, De Beers has announced a reduction in prices for its Lightbox lab-grown diamonds.

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Effective immediately, the standard line, featuring I to J color grades, will be priced at $500 per carat, marking a significant drop from the previous rate of $800 per carat—a decrease of 37.5%.

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Meanwhile, diamonds boasting D to F color grades, VS clarity, and excellent cut will now fetch $900 per carat, down 40% from the former price of $1,500. G to H lab-grown diamonds will be available at $600 per carat, marking a 25% reduction. All stones maintain at least VS clarity and a “very good” cut.

This move marks Lightbox’s first price adjustment since its inception in 2018. The initial fixed rate of $800 per carat, regardless of size, was a notable innovation by De Beers, diverging from the pricing practices of other lab-grown diamond sellers, which mimicked the natural diamond market.

With synthetic diamond prices experiencing a downward trend, industry observers have criticized Lightbox for being overpriced.

CEO of Lightbox, Antoine Borde, remarked, “Lightbox pioneered the lab-grown diamond jewelry sector six years ago with its $800 a carat linear pricing, and today, we are pleased to introduce even lower prices that more closely align with current jewelry-industry dynamics.

De Beers confirmed that the price reduction is permanent. This decision follows a recent trial offering standard loose stones at $600 per carat and D to F goods at $1,000 per carat.

Sandrine Conseiller, CEO of De Beers brands, noted, “The price difference between natural and lab-grown diamonds at retail is growing fast, accelerating consumer awareness that they are fundamentally very different products.”

According to Conseiller, a Lightbox “highest-quality” 2-carat lab-grown diamond now retails for approximately 10% of the price of an equivalent natural diamond, based on data from Tenoris.

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